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Personal Loan To Pay Off Mortgage

YSTAL
YSTAL Posts: 41 Forumite
Are you allowed to take out a personal loan with Barclays to pay off current mortgage,mortgage is with A+L??????.Only got £10k left with 11 yrs to pay and the pre approved offer i,ve got means i could pay off mortgage with cash to spare in same amt of time,just not sure youre allowed to do it.Any help much appreciated.

Comments

  • Toto
    Toto Posts: 6,680 Forumite
    Part of the Furniture Combo Breaker
    Can you not overpay on your mortgage? I would think you have a better interest rate on the mortgage v a loan?
    :A
    :A
    "Everyone is a genius. But if you judge a fish on its ability to climb a tree, it will live its whole life believing that it is stupid" - Albert Einstein
  • poppy_f1
    poppy_f1 Posts: 2,637 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    would only work if the loan interest rate was lower than your mortgage
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